CU Medical Systems, Inc. announced that it has received KRW 5 billion in funding
June 02, 2019
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CU Medical Systems, Inc. (KOSDAQ:A115480) announced a private placement of series 8 unregistered coupon unguaranteed private convertible bonds for gross proceeds of KRW 5,000,000,000 on June 3, 2019. The bonds were issued at par. The debentures do not bear any interest and have yield to maturity of 7%. The bonds will mature on December 3, 2023. The bonds are fully convertible into common shares at a fixed conversion rate of KRW 5,000 per share from June 3, 2020 to November 3, 2023. The board of directors of the company approved the transaction.
CU MEDICAL SYSTEMS, INC. is a Korea-based company mainly engaged in the development, manufacture and marketing of medical equipment. The Company's product portfolio consists of medical equipment used for emergency care, utility health (U-Health) care and rehabitation care. Its emergency care equipment includes defibrillators, automated external defibrillator (AED) trainers, mannequins and data management software. Its U-Health care equipment includes telemetry systems, AED management systems and wearable electrocardiogram (ECG) sensors. Its rehabitation care equipment includes neuromuscular electrical stimulators. The Company distributes its products within domestic market and to overseas markets.
CU MEDICAL SYSTEMS, INC. 
